Summary
- K33 Research stated that the increase in Bitcoin reserve companies has a relatively small impact on the market.
- This is due to many new reserve companies securing Bitcoin through share swap methods.
- In contrast, the report emphasized that spot Bitcoin ETFs have a direct correlation with price.
There have been claims that the increase in Bitcoin (BTC) reserve companies has relatively little impact on the market.
According to The Block on the 25th (local time), K33 Research stated in a report that "the increase in companies adopting Bitcoin reserve strategies does not significantly affect the Bitcoin price," adding, "this is because many new reserve companies are acquiring Bitcoin by exchanging shares with large Bitcoin holders."
Companies such as Strategina and Metaplanet continue to buy Bitcoin directly from the market using debt, affecting demand, but recent entrants are said to be accumulating Bitcoin through 'share swap methods.' Previously, even the Bitcoin reserve company Twenty One secured 37,230 BTC via share exchange with entities such as Tether and Bitfinex.
On the other hand, the report stated that spot Bitcoin ETFs have a direct correlation with price. The report added that "over the past month, spot Bitcoin ETFs have purchased 13,000 BTC," noting that "this was the weakest net inflow since April 23 and aligned with the Bitcoin price movement."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
